SyntheticPairs/Symbols

Synthetic instruments are artificial currency pairs usually unavailable or nontradable in the market, constructed from two or more source symbols. Synthetic symbols support full execution (A-book and B-book), layered pricing, and multi-LP aggregation.

Note: Charges are applied for using Synthetic Provider in the XCore; for more information, consult with your Account Manager.

Note: If a source symbol's session is closed, the synthetic continues streaming using the last price received for that source. If the provider withdraws a source symbol's prices, the synthetic quote is withdrawn as well.

Loopback Setup

A loopback is required when source symbols come from different providers. A dedicated pool collects source quotes, a PrimeXM_XC connector listens to that pool, and a provider reads from the connector to combine the sources for synthetic creation. Skip this section if all source symbols are on the same provider.

1. Liquidity Pool

Create a dedicated pool to collect the source quotes.

2. Connector

Create a PrimeXM_XC connector that will listen to the loopback pool.

3. Connector Stream

Configure the connector stream with the source symbols.

4. Provider

Create the provider that reads from the loopback connector.

5. Provider Stream

Configure the provider stream with the source symbols.

Synthetic Symbol Setup

1. Symbol

Create the synthetic symbol.

2. Provider Configuration

Configure the synthetic on the provider that streams the source symbols (third-party or loopbacked). The synthetic formula is defined in ProviderConfigSetting using the FA format: FA:<symbol_name> as the name, and <factor>,<source_symbol_1>,<source_symbol_2>[,...] as the value. The system auto-determines direct/inverted usage by matching base and quote currencies. A minimum of 2 source symbols is required, and the chain must be sequentially correct.

3. Layering

Configure layered pricing. Up to 5 layers per side. Layer sizes are configured via min and step in ProviderStreamSetting values field. Constraints: min >= step, min must be a multiple of step.

4. Verify Streaming

Verify the synthetic symbol is streaming correctly.

A-book Execution Setup

1. Provider Trade Settings

Add the synthetic symbol to the Provider trade settings.

2. Connector Account Settings

Add the synthetic and source symbols to ConnectorAccountSetting with b_book set to 0.

3. System Synthetics

Configure the hedge connector account in System synthetics.

4. Verify Execution

Restart and verify execution in the log viewer.

clOrdID = SH<legIndex>-<parentOrderId>-<batchIndex>

Residual Exposure Overview

1. Why Residual Exposure Appears in Synthetic Trading

This video explains why residual exposure is created when trading synthetic symbols.

2. How to Track Residual Exposure in Position Admin

This video shows how to track residual exposure using Position Admin and the Diff Source Account.